Israeli Competition Authority Blocks Melisron's Acquisition of Kanyon HaZahav

The Israeli Competition Authority has halted a major acquisition deal in the retail sector, announcing its intention to oppose Melisron's planned purchase of control over Kanyon HaZahav in Rishon Lezion. The authority's decision came after a thorough review, including a hearing process, during which it concluded that the merger could significantly harm competition in the shopping mall market, particularly in the Rishon Lezion area.

Following the authority's announcement, Melisron withdrew its application to acquire the mall, effectively stopping the transaction. Kanyon HaZahav, one of Israel's largest shopping centers, is currently jointly owned by Migdal Insurance, which holds approximately 75% of the rights, and Gindi Holdings, which owns the remaining 25%. Gindi also fully owns the mall's management company, which oversees daily operations.

Melisron, a leading Israeli real estate company that owns the Ofer Mall Group and numerous commercial properties nationwide, sought to expand its portfolio by acquiring Kanyon HaZahav. However, the Competition Authority's concern was that the deal would reduce market competition in the region. As a result, the mall will continue operating under its current ownership structure for the foreseeable future.